(a) The amount of pecuniary loss under this chapter, if the property is destroyed, is:
(1) the fair market value of the property at the time and place of the destruction; or
(2) if the fair market value of the property cannot be ascertained, the cost of replacing the property within a reasonable time after the destruction.
(b) The amount of pecuniary loss under this chapter, if the property is damaged, is the cost of repairing or restoring the damaged property within a reasonable time after the damage occurred.
(c) The amount of pecuniary loss under this chapter for documents, other than those having a readily ascertainable market value, is:
(1) the amount due and collectible at maturity less any part that has been satisfied, if the document constitutes evidence of a debt; or
(2) the greatest amount of economic loss that the owner might reasonably suffer by virtue of the destruction or damage if the document is other than evidence of a debt.
(d) If the amount of pecuniary loss cannot be ascertained by the criteria set forth in Subsections (a) through (c), the amount of loss is deemed to be greater than $750 but less than $2,500.
(e) If the actor proves by a preponderance of the evidence that he gave consideration for or had a legal interest in the property involved, the value of the interest so proven shall be deducted from:
(1) the amount of pecuniary loss if the property is destroyed; or
(2) the amount of pecuniary loss to the extent of an amount equal to the ratio the value of the interest bears to the total value of the property, if the property is damaged.
Acts 1973, 63rd Leg., p. 883, ch. 399, Sec. 1, eff. Jan. 1, 1974. Amended by Acts 1983, 68th Leg., p. 2918, ch. 497, Sec. 2, eff. Sept. 1, 1983; Acts 1993, 73rd Leg., ch. 900, Sec. 1.01, eff. Sept. 1, 1994.
Acts 2015, 84th Leg., R.S., Ch. 1251 (H.B. 1396), Sec. 6, eff. September 1, 2015.
Sec. 28.01 | Sec. 28.02 | Sec. 28.03 | Sec. 28.04 | Sec. 28.05 | Sec. 28.07 | Sec. 28.08